India’s AI Leap: Responsible Practices Now a Focus for Businesses, Says Nasscom
Indian businesses are increasingly adopting Responsible Artificial Intelligence (RAI) practices, a trend underscored by a recent survey conducted by Nasscom, the prominent tech industry body. The survey, which highlights the growing importance of ethical and secure AI deployment, revealed that around 60% of businesses in India either have matured RAI practices and policies in place […]
IRDAI Deadline Missed? Life Insurers Want More Time for Surrender Fee Analysis
Recent developments in the Indian life insurance sector indicate a significant shift in policy surrender fees, a move that has prompted life insurance firms to seek more time from the Insurance Regulatory and Development Authority of India (IRDAI) to assess the implications. IRDAI has proposed changes to the surrender value of non-linked life insurance policies, […]
Tap it and Pay it! Introducing UPI Tap & Pay – The Next Level of Digital Transactions
In an exciting development for digital payment enthusiasts, the National Payments Corporation of India (NPCI) is all set to launch the UPI Tap and Pay feature by the end of January 2024. This innovative feature, which was announced by RBI Governor Shaktikanta Das during the Global Fintech Fest in September 2023, is poised to enhance […]
Punjab National Bank Eyes Rs 7,500 Crore Boost through Capital Infusion in FY25
Punjab National Bank (PNB), one of India’s largest public sector banks, has announced a significant fundraising plan for the financial year 2024-25. The bank’s board of directors has approved a proposal to raise equity capital amounting to Rs 7,500 crore. This capital increase will be conducted in one or more tranches using different methods such […]
Green Funds Optional for Banks & NBFCs: RBI Clarifies Framework in FAQs
The Reserve Bank of India (RBI) recently clarified that it is not mandatory for banks and Non-Banking Financial Companies (NBFCs) to raise green funds. However, if they choose to do so, they must adhere to the prescribed framework. This announcement was made in a set of Frequently Asked Questions (FAQs) regarding the ‘Framework for Acceptance […]
Think Globally, Code Desi: India’s Generative AI Revolution Begins
India is at the forefront of a significant shift in the field of generative artificial intelligence (AI), with a focus on creating technologies and solutions tailored to its unique needs. This burgeoning sector is seeing a collaboration between government bodies, private enterprises, and educational institutions, aiming to establish India as a global hub for AI […]
Safeguarding Savings: EPFO’s New Timeframes Aim to Combat Account Fraud
The Employees’ Provident Fund Organisation (EPFO) has recently introduced new regulations to streamline the process of freezing and de-freezing Provident Fund (PF) accounts. These measures aim to boost efficiency and security while safeguarding the funds against potential risks like fraud, impersonation, and forgery. Under the new Standard Operating Procedures (SOPs), the timeframe for freezing accounts […]
Deepfake Alert: Govt Sounds Wake-Up Call for Banks and Fintechs
In a significant move to counter rising cyber threats, the Indian government has recently issued a warning to banks and fintech companies about the growing risks associated with deepfakes. This warning comes in light of the increasing exploitation of artificial intelligence (AI) technologies by cybercriminals, particularly in the financial sector. Deepfakes, which involve the use […]
Wed in India”: PM Modi’s Wedding Tourism Initiative Aims to Generate Billions for the Economy
New Delhi: In a visionary move to bolster the Indian economy, Prime Minister Narendra Modi has introduced the ‘Wed in India’ initiative, paralleling the successful ‘Make in India’ campaign. This innovative concept, unveiled during his “Man Ki Baat” address on November 26, aims to revolutionize the Indian wedding industry, a sector that already stands among […]
Investing in Good: Sebi Says Yes to Zero-Coupon Investments in NPOs
In a significant development, the Securities and Exchange Board of India (SEBI) has introduced new norms for the issuance of ‘Zero Coupon Zero Principle’ instruments by Not-for-Profit Organisations (NPOs), which are to be listed on the Social Stock Exchange (SSE). This move is aimed at enhancing transparency and enabling informed decision-making among investors, while setting […]